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Bizhelp, CPA
Category: Homework
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Experience:  Bachelors Degree and CPA with Accounting work experience
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The property of Lances Garage is worth $90,000. Lance has

Resolved Question:

The property of Lance's Garage is worth $90,000. Lance has a fire insurance policy of $40,000 that contains an 80 percent coinsurance clause. The insurance company pays on a fire that causes $60,000 damage:

1. $27,777.78
2. $27,777.87
3. $33,333.33
4. $33,334,00
5. None of these
Submitted: 5 years ago.
Category: Homework
Expert:  Bizhelp replied 5 years ago.

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